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Kingalf - I was considering selling yesterday and missing out on the opportunity hoped for a spike today to sell, however I like the way you've laid it out. I have 6979 shares you have made me realise that whether it goes up or down in the short term really does not matter (my funds are in an ISA so taxes N/A), you win both ways. If the price does retrace £2.04 it is a buying opportunity (imho I think it will not go lower than £2.20). The long-term trend for TSCO is up and has been since 2016. If it does go up, I see myself selling around the £2.80 level before it retraces back to £2.30 level around this time next year. It remains a decent investment that grows steadily and pays a good dividend. Personally, I am not a fan of what the board did with the special dividend and consolidation, but let's make lemonade...
I looked at the share graph this morning following the results and noticed, as with many shares at the moment, it is at the end of an ascending triangle phase where it has been suppressed around the 216p level for the past 5 months. Sellers have managed to pull the price down to 168p at close on 14 May, 185p on 30 June, 188p on 24 July, 192.5p on 26 August and 205p at close yesterday. With a PE of 9.3 (on TradingView) and steady financials throughout COVID, I am confident that this will break-out in the next couple of weeks. Please note, that it may have a false break-out below the current levels, but if this happens it will be a buying opportunity in my opinion. GLA!
Hi Tradegurus, I think the lawsuit will go away, before it gets very serious. Insurers like Hiscox write their policies in such a way that they avoid risk. What they do is not fair, but it is not about the ethics, its about them making money. Furthermore, they have some of the best law experts in the country working for them and they are involved when policy wordings are written and believe me when I say that they have considered pandemics of this nature. Below a link to give you insight in what some other insurers said back in late March about the subject.
https://www.insurancebusinessmag.com/uk/news/breaking-news/coronavirus-firms-clarify-business-interruption-coverage-217610.aspx
Hope this helps.
I wonder whether someone in senior management or perhaps even on the board thought to themselves before Christmas, "maybe we should take action quickly before the share price gets out of hand". Unfortunately I don't think the damage that has been done by their inaction will allow the share price to shoot up. Confidence lost is lost. No-one will ever fully trust them to effectively handle a complex high-risk situation again. I cannot fault them for getting in Freeh & Co, but too late. They have really hurt us small investors and I will never forgive them for that. Shetty will benefit as he will be buying at this rock bottom price probably around the £12 mark and everybody will just be grateful to get something out. I hope you all have a decent weekend - try and forget and get back on Monday.
I have been in and out of this share like all of you since it was shorted. Like many of you I have been going in at the £12.40 to £12.50 level and selling above £13. My concern is that the upward margin has been shrinking over the last few days and doing tech analysis last night this was clearly going into a descending triangle with support at the £12.50 level. The buyers are definitely getting weaker at the highs. What are your thoughts on downward breakout to lower levels in the next couple of days?
I think MW will bide their time carefully. At the current share price there is very little prospect of money for them to make from further shorting it at this moment. The £12.00 has been tenaciously stubborn (thankfully) and I think it is safe to stay in this share for a bit. However I would not mark this share for my long term investment portfolio, it is really just a bit of a punt to make a quick few bucks over the next couple of weeks. Shorting might again come into play around the £17-£18 mark. Happy to stay in until that point.